ACWA Power wins 300 MW solar project in Saudi Arabia

ACWA Power, a Saudi Arabia-based engineering, procurement and construction (EPC) firm has won a contract to develop the 300 MW grid-connected solar photovoltaic (PV) Sakaka project in the country. The tender was launched by Saudi Arabia’s Renewable Energy Project Development Office and received eight bids ranging from $0.017 to $0.0266 per kWh. ACWA Power has signed a PPA with the Saudi Power Procurement Company for 25 years at a tariff of $0.0234 per kWh. According to the company, it will invest Rs $302 million to develop the project.

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